MRF - Merafe Resources Limited - Trading statement for the six months ended 30
MRF
MRF
MRF - Merafe Resources Limited - Trading statement for the six months ended 30
June 2011 and production update on winter closures
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
("Merafe" or "the Company")
Trading statement for the six months ended 30 June 2011 and production update on
winter closures
Trading statement for the six months ended 30 June 2011
In terms of the JSE Limited Listings Requirements, issuers are required to
publish a trading statement as soon as they are satisfied that a reasonable
degree of certainty exists that the financial results for the period to be
reported on next will differ by at least 20% from those of the prior comparative
period. Shareholders are advised that Merafe is expecting to report earnings per
share and headline earnings per share of between 3 cents and 4 cents for the six
months ended 30 June 2011. This compares with earnings per share of 8 cents and
headline earnings per share of 7 cents for the prior comparative period.
Shareholders are advised that the financial information on which this trading
statement is based, has not been reviewed or reported on by Merafe`s external
auditors and is provided in terms of paragraph 3.4(b) of the JSE Limited
Listings Requirements. The financial results for the interim period ended 30
June 2011 are expected to be released on SENS on 2 August 2011.
2011 production update on winter closures
Shareholders of the Company are referred to the SENS announcement on 4 May 2011
in which Merafe indicated that various furnaces will undergo routine maintenance
during the winter months of June to August 2011, resulting in the Xstrata-Merafe
Chrome Venture (`the Venture`) operating on average at 65% of operating
capacity, during the winter months.
Due to current market conditions, the Venture`s revised production during the
winter months of June to August 2011 will be, on average, approximately 50% of
operating capacity.
Sandton
20 July 2011
Sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 20/07/2011 08:30:01 Produced by the JSE SENS Department.
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